@Copper21I currently own some companies with no revenue DVP,...

@Copper21

I currently own some companies with no revenue DVP, HLX, GBR, DEG etc.
My valuations on these examples are intrinsically based on the MRE they posses or about to. If they show a PFS or have a near to medium term cashflow positivity path then even better. You have to remember that AIS was at one time in this category, that was when I bought it at 2.9c. So were my other cornerstones miners EVN, NST and SAR to name a few were absolutely on negative EPS around 2014-2015, thanks to the commodities bust.

I know, not exactly the ones you meant but we all know which ones they are...
I'm old enough to have experienced the Tech Bubble blood bath with a nadir in 2003. Microsoft, Alphabet, Apple and Ebay are still cornerstones in my portfolio since 2004. I wish I got on the Amazon bandwagon but hey you can't win them all. Revenue is important but the point is that there are other factors to consider... The ones that survive the bloodbath (of a commodities bust, a tech bubble or any market meltdown) ends up stronger than ever.